S&P rates Arrow Global B+

Standard & Poor's said it assigned its B+ counterparty credit rating to Arrow Global Group plc, the listed entity created following completion of the group's initial public offering in October 2013.

The outlook is stable.

At the same time, the agency affirmed the B+ counterparty credit rating on the group's intermediate holding company, Arrow Global Guernsey Holdings Ltd., then withdrew it at the company's request.

S&P also affirmed the BB- issue rating and 2 recovery rating on the £220 million senior secured term notes issued by the group's wholly owned subsidiary, Arrow Global Finance plc, and guaranteed by the group's main subsidiaries.

S&P said its rating on Arrow Global reflects the group credit profile of the consolidated group and its view that there are no material barriers to cash flows from the operating subsidiaries to the holding company.

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